TNAG-1943-FCO40-2769-Stock-market-and-exchange-rate-in-Hong-Kong-1989 — Page 132

12.

Clause 17 establishes a board to be known as the

Securities and Futures Board of Appeal ("the Board") and provides

for its composition. The members of the Board form a panel for the

purpose of appointing tribunals to hear appeals.

13.

Clause 18 deals with matters in relation to which appeals

may be made to the Board. See also clause 41.

14.

Clauses 19 and 20 provide for the hearing of appeals by

tribunals and regulate the procedure and proceedings regarding such

appeals. Clause 20 also provides for offences.

Part IV

15. Clause 21 introduces additional provisions relating to

applications for registration under the Securities Ordinance and

the Commodities Trading Ordinance and the matters that may be taken

into account in determining whether an applicant is a fit and

proper person.

16.

Clause 22 requires applicants under section 51 of the

Securities Ordinance or section 30 of the Commodities Trading

Ordinance to furnish certain information to the Commission relating

to applications for registration under those Ordinances.

17.

Clause 23 provides that persons already registered under

the sections specified in paragraph 16 will, subject to the

provisions relating to revocation or suspension, continue to be

registered.

18.

Clause 24 applies clause 21(2) and (3) to inquiries under

section 56 of the Securities Ordinance or section 36 of the

Commodities Trading Ordinance.